Which polyurethane is the best for wood that is dry?

I have a t&g pine ceiling. Our fireplace has made the wood very dry in places. The ceiling was clear coated before. I was told to use oil base polyurethane to put moisture back into the wood. I would rather use water based polyurethane because the fumes are not as bad. Will the water based do the same thing?

The oil base and water base poly will do the same thing. Both will soak in and form a plastic film on the surface of the wood. Poly doesn't add moisture to the wood like tung oil or an old time varnish.

The dry areas will soak up the finish more than the other areas. Plan on a minimum of two coats for a good consistent finish.